Home Forums Hunting & Shooting Hunter's Campfire reverse mortgage good and bad

Clawback from the government is for any gifts within a set amount of time. Anything prior is untouchable.

Done correctly, one can, over time, give cash and land value (trust or LLC makes land/property much easier) to their family and avoid having medical costs, especially long term care costs for, say, a memory care unit, wipe out a life's savings.


I've paid enough in taxes over my life to be motivated to use all legal means to limit what goes to .gov instead of my family.

Being able to influence how that inheritance is used while still around is icing on the cake.

Edit: last year, you could gift up to 17k tax free to family members. This year it's 18k. If a "family" property is in an LLC or trust, that value, as a percentage of property ownership, can be gifted yearly. So, 51k of value each year could go to three kids equally last year. 34k to two kids etc...

Plan ahead, do it early, and everyone's life is much simpler with less fighting after you die. Bonus if you don't ring up medical debt until you've gifted your value long enough ago that it's all past the clawback period.

Failing to plan is planning to fail